Net Income per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Net Income per Common Share

Net Income per Common Share

Basic net income per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. Common stock equivalents related to options and restricted stock awards for 511,693 and 386,992 shares of common stock for the three months ended September 30, 2013 and 2012, respectively, have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive. Common stock equivalents related to options and restricted stock awards for 538,010 and 837,018 shares of common stock for the nine months ended September 30, 2013 and 2012 have been excluded from the fully diluted calculation of net income per share, as inclusion would be anti-dilutive.

A reconciliation of the basic and diluted weighted average common shares outstanding is as follows:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2013	2012	2013	2012
Weighted average common shares outstanding—basic	15,199,802	14,846,249	15,109,311	14,742,855
Dilutive common shares issuable in connection with stock plans	154,657	177,331	190,807	228,812
Weighted average common shares outstanding—diluted	15,354,459	15,023,580	15,300,118	14,971,667